CBDT Condones Delay In Filing Of Form No. 10-IC For Assessment Year 2021-22
1 year, 1 month ago

CBDT Condones Delay In Filing Of Form No. 10-IC For Assessment Year 2021-22

Live Law  

The Central Board of Direct Taxes has notified the condonation of delay under section 119 of the Income-tax Act, 1961 in filing of Form No. 10-IC for Assessment Year 2021-22.Form 10-IC is required to be filed only if a Domestic Company chooses to pay tax at concessional rate of 22% under Section 115BAA of the Income Tax Act, 1961.The Board has received the representations. Form 10-IC is required to be filed only if a Domestic Company chooses to pay tax at concessional rate of 22% under Section 115BAA of the Income Tax Act, 1961. Secondly, the assessee company has opted for taxation under section 115BAA of the Act in item of "Filing Status" in "Part A-GEN" of the Form of Return of Income ITR-6.

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History of this topic

Tax Deadline: Authorities Extend Last Date For Filing ITRs. Find New Date Here
3 weeks, 1 day ago

Tax Deadline: Authorities Extend Last Date For Filing ITRs. Find New Date Here

ABP News  

The Central Board of Direct Taxes announced on Saturday that the deadline for income tax return filing has been extended. ➡️The due date for the assessees referred to in clause of Explanation 2 to Sub Section of Section 139 has been extended from 30th November, 2024, to 15th December, 2024. ➡️ Circular No.… pic.twitter.com/4umO91ELAQ — Income Tax India November 30, …

Due Date For Filing Form 10AB Extended By CBDT; Bangalore ITAT Quashes Order Rejecting Section 80G Approval
5 months, 4 weeks ago

Due Date For Filing Form 10AB Extended By CBDT; Bangalore ITAT Quashes Order Rejecting Section 80G Approval

Live Law  

The Bangalore Bench of Income Tax Appellate Tribunal has quashed the order rejecting the approval under Section 80G of the Income Tax Act as the Central Board of Direct Taxes has extended the due date for filing Form 10A/10AB via press release dated April 25, 2024, to June 30, 2022.The bench of Beena Pillai and Laxmi Prasad Sahu has. The …

Direct Tax Cases Monthly Round Up: January 2024
10 months, 2 weeks ago

Direct Tax Cases Monthly Round Up: January 2024

Live Law  

Supreme Court Case Title: Herbicides India Limited verses ACIT While setting aside the Rajasthan High Court orders, the Supreme Court restored the assessee's appeals by condoning the delay in filing the paper-book before High Court and observed that the assessee is entitled to have his appeals heard on merits. Madras High Court Case Title: Anamallais Bus Transports P. Ltd verses …

CBDT Notifies ITR-6 For AY 2024-25
10 months, 3 weeks ago

CBDT Notifies ITR-6 For AY 2024-25

Live Law  

The Central Board of Direct Taxes notified the Income Tax Return Form ITR-6 for the Assessment Year 2024-25 with effect from April 01, 2024.The has notified the Income-tax Rules, 2024 to further amend Income-tax Rules, 1962.The companies which are registered under the Companies Act 2013 or the previous Companies Act 1956 should file ITR 6 Form. The Central Board of …

Delhi High Court Directs Income Tax Commissioner To Accept BCI's Form No.10 After Condoning Delay
11 months, 2 weeks ago

Delhi High Court Directs Income Tax Commissioner To Accept BCI's Form No.10 After Condoning Delay

Live Law  

The Delhi High Court has directed the income tax commissioner to accept Form No. The petitioner, Bar Council of India, has sought quashing of an order passed by the Commissioner of Income Tax and directions to the respondent to accept Form No. The petitioner also requested that the respondent dispose of the application for condonation of delay in filing Form …

Form No.10-IC Couldn’t Be Uploaded On ITBA Portal Due To Technical Problem: Gujarat High Court Allows Section 115BAA Concessional Tax Benefit
1 year, 1 month ago

Form No.10-IC Couldn’t Be Uploaded On ITBA Portal Due To Technical Problem: Gujarat High Court Allows Section 115BAA Concessional Tax Benefit

Live Law  

The Gujarat High Court has allowed the benefit of concessional tax under Section 115BAA of the Income Tax Act, as Form No.10-IC could not be uploaded on the Income Tax Business Application portal due to technical problems.The bench of Justice Biren Vaishnav and Justice Mauna M. Bhatt has observed that Form 10-IC was furnished by the assessee on January 29, …

CBDT Notifies Rule 21AHA And Form 10-IFA For New Manufacturing Co-Operative Societies To Opt For 15% Concessional Tax Rate
1 year, 2 months ago

CBDT Notifies Rule 21AHA And Form 10-IFA For New Manufacturing Co-Operative Societies To Opt For 15% Concessional Tax Rate

Live Law  

The Central Board of Direct Taxes has notified the Income-tax Rules, 2023.The new rule 21AHA is in respect of the Exercise of option under section 115BAE. The option to be exercised in accordance with the provisions of sub-section of section 115BAE by a person, being a cooperative society resident in India, for any previous year relevant to the. The option …

CBDT Extends Due Date For Educational & Charitable Institution Audit And Form ITR-7 For The Assessment Year 2023-24
1 year, 3 months ago

CBDT Extends Due Date For Educational & Charitable Institution Audit And Form ITR-7 For The Assessment Year 2023-24

Live Law  

The Central Board of Direct Taxes has extended the due date for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24.The due date of furnishing Audit reports in Form 10B/Form 10BB for the Financial Year 2022-23, which is 30.09.2023 has now been extended by the CBDT to 31.10.2023.Form 10B is associated with charitable institutions and religious trusts …

CBDT Authorises CCIT/DGIT Rank Officials To Condone Delay In ITR-filing By Co-Operative Societies
1 year, 4 months ago

CBDT Authorises CCIT/DGIT Rank Officials To Condone Delay In ITR-filing By Co-Operative Societies

Live Law  

The Central Board of Direct Taxes has authorised Chief Commissioners of Income Tax and Directors General of Income Tax rank officials to condone delays in ITR-filing by cooperative societies. "CCIT and DGIT are required to admit all pending and new applications and decide them on merits, in accordance with the law where such a person is required to get his …

CBDT Extends Time Limits For Submission Of TDS/TCS Statements
1 year, 5 months ago

CBDT Extends Time Limits For Submission Of TDS/TCS Statements

Live Law  

The Central Board of Direct Taxes has extended the time limits for the submission of TDS and TCS Statements.The CBDT provides relaxation in the statement of deduction of tax for the first quarter of the financial year 2023–24, required to be furnished in Form No. The Central Board of Direct Taxes has extended the time limits for the submission of …

CBDT Notifies New Monetary Limits For Condonation Of Delay In Filing Refund Claim And Claim Of Carry Forward Of Losses
1 year, 6 months ago

CBDT Notifies New Monetary Limits For Condonation Of Delay In Filing Refund Claim And Claim Of Carry Forward Of Losses

Live Law  

The Central Board of Direct Taxes has issued new monetary limits in respect of condonation of delay in filing refund claim and claim of carry forward of losses under Section 119 of the Income-tax Act, 1961.The Principal Commissioners of Income-tax/Commissioners of Income-tax shall be vested with the powers of acceptance/rejection of applications/claims if the. The Central Board of Direct Taxes …

CBIC Waives Late Fees In Case Of FORM GSTR-4 For The Periods From July-2017 Till FY 2021-22
1 year, 8 months ago

CBIC Waives Late Fees In Case Of FORM GSTR-4 For The Periods From July-2017 Till FY 2021-22

Live Law  

The Central Board Of Indirect Taxes and Customs has waived the late fees in the case of FORM GSTR-4 for the periods from July-2017 to FY 2021-22 where the total amount of central tax payable in the return is nil.The Central Government amended Notification No. The Central Board Of Indirect Taxes and Customs has waived the late fees in the …

CBDT Notifies ITR Forms For Assessment Year 2023-24
1 year, 10 months ago

CBDT Notifies ITR Forms For Assessment Year 2023-24

Live Law  

The Central Board of Direct Taxes has notified the ITR forms for the assessment year 2023–24.The Board has notified the Income-tax Rules, 2023, which shall come into force with effect from April 1, 2023.The Board has notified the Indian Income Tax Return Forms, namely ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4 SUGAM, ITR-5, ITR-6, and ITR-V, and the Indian Income Tax. The …

CBDT Extends Time Limit For Compliance To Seek Exemption under S. 54 To 54GB Of The IT Act
1 year, 11 months ago

CBDT Extends Time Limit For Compliance To Seek Exemption under S. 54 To 54GB Of The IT Act

Live Law  

The Central Board of Direct Taxes has notified the extension of the time limit for compliance to be made for claiming any exemption under sections 54 to 54GB of the Income-tax Act, 1961.The Board had issued a circular dated June 25, 2021, which provided relaxation in respect of certain compliances to be made by taxpayers, including investment, deposit, payment, acquisition,. …

CBDT Exempts NRIs Without PAN From E-filing Form 10F Upto March 2023
2 years ago

CBDT Exempts NRIs Without PAN From E-filing Form 10F Upto March 2023

Live Law  

The Central Board of Direct Taxes has exempted non-resident Indians without permanent account numbers from e-filing Form 10F up to March 2023.The notification No. The Central Board of Direct Taxes has exempted non-resident Indians without permanent account numbers from e-filing Form 10F up to March 2023. "On consideration of the practical challenge being faced by non-resident taxpayers not having PAN …

Filing Of Form 10–IC Is Mandatory Condition To Claim The Benefit Of Reduced Corporate Tax Rate For The Domestic Companies: ITAT
2 years ago

Filing Of Form 10–IC Is Mandatory Condition To Claim The Benefit Of Reduced Corporate Tax Rate For The Domestic Companies: ITAT

Live Law  

The Mumbai Bench of the Income Tax Appellate Tribunal has held that in order to claim the benefit of a reduced corporate tax rate, domestic companies have to mandatorily file Form 10–IC.The two-member bench of Sandeep Singh Karhail and Om Prakash Kant has observed that the assessee did not file Form 10–IC before the due date of filing the return. …

CBDT Notifies New Form 29D For Refund Of Tax Deducted
2 years, 3 months ago

CBDT Notifies New Form 29D For Refund Of Tax Deducted

Live Law  

The Central Board of Direct Taxes has notified the new Form 29D for refund of tax deducted. The amendment added a new Rule 40G to the Income-tax Rules of 1962 relating to Refund Claim under Section 239A. Section 239A states that if no tax deduction was required, a taxpayer may apply to the Assessing Officer for a refund of tax …

Businesses Get Time Till June to File Form to Get Tax Rebate, Says CBDT; Details Here
2 years, 9 months ago

Businesses Get Time Till June to File Form to Get Tax Rebate, Says CBDT; Details Here

News 18  

In a good news to business owners, the Central Board of Direct Taxes, or CBDT, has given some extra time to businesses to file a key form that is required to avail lower corporate taxes without incentives in tax, which was offered to them in 2019. As per a CBDT statement, the deadline has now been extended till June 30 …

Income Tax Return Filing Deadline: CBDT Extends Due Date of Various ITR e-filing Forms
3 years, 3 months ago

Income Tax Return Filing Deadline: CBDT Extends Due Date of Various ITR e-filing Forms

News 18  

What comes as a big relief to taxpayers in India, the Finance Ministry had announced that it would be extending the deadlines for e-filings of various income tax returns forms that come under the ambit of the Income-Tax Act, 1961. 15CC to be furnished by authorized dealer in respect of remittances made for the quarter ending on 30th June, 2021, …

Tax department extends deadlines for various filings
3 years, 4 months ago

Tax department extends deadlines for various filings

Live Mint  

The Central Board of Direct Taxes on Tuesday extended the deadlines for all statutory filing requirements, in view of the difficulties reported by taxpayers. According to a statement by CBDT, more time has been granted for filings related to foreign remittances, equalization levy or digital services tax, statement of income paid by investment funds to unit holders and investments made …

Deadline For Income Tax Returns: Uttarakhand High Court Directs CBDT To Consider Representations
3 years, 11 months ago

Deadline For Income Tax Returns: Uttarakhand High Court Directs CBDT To Consider Representations

Live Law  

The Uttarakhand High Court on Friday directed the Central Board of Direct Taxes to consider representations seeking extension of due date of filing the Tax Audit Report and Income Tax Return for the assessment year 2021-21. A Division Bench of Chief Justice Raghvendra Singh Chauhan and Justice Manoj Kumar Tiwari observed that due to nationwide COVID19 pandemic, a large number …

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